Corporate Finance in Europe: A Survey

Francois Degeorge () and Ernst Maug
Additional contact information
Ernst Maug: School of Business Administration, University of Mannheim

No 06-17, Swiss Finance Institute Research Paper Series from Swiss Finance Institute

Abstract: We survey research on corporate finance in Europe. The ambition is to provide the reader with an overview of what we learned, particularly since the beginning of the 1990s. We focus on two themes: (1) the practice and institutions in Europe are heterogeneous and different from those in the United States, and we identify areas where the gap seems to be narrowing; (2) we wish to draw some more general conclusions with respect to the law and finance paradigm that has dominated recent research on comparative institutional analysis, and the diversity of European institutions seems to present an ideal testing ground for this approach. We find that the ability of the law and finance approach to capture the relevant differences within Europe is often limited. We focus in particular on equity primary markets;privatizations; cross-listings; capital structure and payout policy; mergers and acquisitions; business groups, pyramids and dual class shares; and valuation and the cost of capital.

Keywords: Corporate finance; Europe (search for similar items in EconPapers)
JEL-codes: G3 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2006-06
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=896518 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:chf:rpseri:rp0617

Access Statistics for this paper

More papers in Swiss Finance Institute Research Paper Series from Swiss Finance Institute Contact information at EDIRC.
Bibliographic data for series maintained by Ridima Mittal ().